Tire / Wheel Road Hazard Insurance - Price increase Oct. 1st

[C-40]

I was informed by my CA that the Tire / Wheel Road Hazard Insurance went up starting October 1st. Apparantly, the # of claims (NY / NJ) in my area have gone up....lots of bent rims and tire damage if you run on low profile tires. The price I paid was $845. (Good for 5 Years). I placed my order on (09/17) so I locked in my price. For new buyers, this is an option to consider if your roads aren't the greatest. The cost for an OEM rim and run-flat tire for an X5 can run you at least $1k or more per wheel.

[his722]

I purchased it on my 2010 4.8. My CA said that they used to have 2 different types of insurances but not any more. He said they have only 1 with unlimited times for tires and rims. It costed me little less than $1,500. I had to get it though because you know if you live in northeast region.

[mtech8]

There are a lot of different types of tire/wheel insurances. Make sure you read the fine print.

[C-40]

Fellow X5'ers:
My Road / Wheel Insurance Insurance provides:
Coverage for: Any damage to tires and/or wheels caused by anything other than driving off-road. It covers whichever wheels are on the car (for instance if you have a winter set in addition to the 20”s). It also covers cosmetic damage to the wheels (curb scrapes, rash, dings, etc). This policy has a term of Five (5) years unlimited use. Essentially, if you bust up your wheels a few times, there is no cap or Aggregate Limit. Another thing I noted was NO Deductible. Considering I ordered the M-Sport Package w/ Style 227 Wheels, I thought $845. was an excellent deal.

[mtech8]

That is a pretty decent deal.

My receipt showed that I paid $699 for 5 years (could have sworn that it was actually less).

Mine does not cover cosmetic damage. Has unlimited uses and no deductible also.

On the receipt, it states that its for: 20" Wheels or Greater, but when I called them today to ask prior to upgrading my wheels to 21". They are claiming that an upgrade is not covered. I can switch styles as long as it stays within the same size or smaller. Supposedly if I bought the car with the 21" rims then that would be covered (same price), but not later if I upgrade them. On top of that, the warranty stays with the car, thus if I sell my wheels, the policy is non-transferable (unless I sell the entire car too).

Pretty stupid. Now I'm not sure if I should upgrade. On a plus side, I did get a nail in the rear's once and it was fixed under this warranty for free (dealer receipt indicated it would have cost me $614.25!)

[C-40]

Hi Mtech8:
I have a legal / Insurance background and I would review my policy closely. If your receipt states coverage is for 20" or greater, then there is some validity behind that. An Insurance policy (regardless of who the carrier is... AIG, Hartford, State Farm) will state under its Terms and Conditions what's covered and what's Excluded. Dealer reps may claim or tell you 21" wheels are not covered, but they are not representing the Insurance Company. There may be something else to it:

Here's my "Wild Ass Guess / Conspiracy Theory":
* The Dealer has a Master Insurance Policy covering Wheel / Tire Insurance on behalf of their clients.
*The Dealer is charged an Annual premium which they pass along to their customers.
* Due to the very high probability that 21" Wheels will suffer damage, the Dealer's Master Insurance Policy will have some very poor Loss History and Increased Claims Count.
* In essence, the Dealer will get jacked with an Increase at Renewal or be Non-Renewed.

My Suggestion:
* Your policy is good for (5) years. If you know for certain that 21" wheels are covered under your policy, then go get that sweet upgrade (ie. Hartge, BBS, etc.).
* The dealer sold you that policy for $699., they've got to live with the claims that go along with it.

[jayjay_dee]

C-40, from which dealership did you get this wheel/tire insurance from?

[C-40]

Paul Biller BMW in Wayne.

[jayjay_dee]

Thanks, i have an appointment with them tomorrow morning, ill discuss this with my sales guy...

I need to finalize the specs for my 35d as my PCD date is fast approaching, 11/5...

sport seat or comfor seat? rear climate or no?

decisions, decisions...

[his722]

I guess i paid a lot on my tire and rim insurance. I gotta talk to my sales person about this!!!!